Alpha Mead Facilities introduces affordable rental scheme

An initiative aimed at affording Ghanaians the opportunity to pay rent on monthly basis without having to go through the problem of paying one or two-year rent advancement to a landlord has been launched in Accra.

Dubbed “Rent4Less”, the innovation by Alpha Mead Facilities Ghana, an International Real Estate Management Company, seeks to support government’s initiative to help Ghanaians meet their shelter needs.

It would allow Ghanaians to pick accommodation of their choice and location and be able to pay their rent every month on a flexible payment term.  

According to the Board Chair of AMF, Ghana, Reverend Kennedy Okosun, the product would “drive a new culture of rent payment for Ghanaians and unlock the economic engines of real estate assets for developers, landlords, and investors whose properties had been lying unoccupied for far too long due to their demand for rent advance payment.”

He said because real estate was a location-driven investment, it was difficult for an average income earner to stay in prime locations close to Central Business Districts (CBDs), primarily because of the rent structure at those locations.

Reverend Okosun said despite the immense impact of shelter on the social architecture, not everyone in Ghana, and, indeed, a significant part of Africa was able to afford a safe, comfortable, and secure accommodation.

“A drive around some of the cities revealed an interesting paradox of scarcity amid plenty, with low occupancy rates on the one side and unmet demands for housing on the other.

“The current rent pattern in our nation, which requires a tenant to pay between six and 24 months advance rent creates a huge gap between people’s wish to live in comfortable environments and the size of their pockets,” he said.

Rev Okosun said under the Guaranteed Rental Income Programme (GRIP), the product would ensure that landlords enjoyed early economic benefit on their assets, increase occupancy levels, and leverage Alpha Mead’s expertise in Facilities Management to ensure that the assets remained in valuable condition.